AI Provider Inbenta Lands $40 Million in Funding

Jordi Torras, a former Oracle VP, saw an opportunity to improve the way companies optimize their search technologies. In 2011, he founded Inbenta to provide professional consulting services and develop an AI toolkit for search optimization. This proved to be a wise move — Inbenta’s customer base has grown to over 250 brands across industries including financial services, travel, ecommerce, insurance, auto and telecom.

Inbenta recently closed a $40 million funding round led by Tritium Partners, bringing the startup’s total raised to over $60 million. This money will be used to advance the company’s proprietary and patented AI toolkit and position Inbenta for the anticipated growth in the conversational AI space.

Inbenta offers four main products: Chatbot and Messenger, Knowledge, and Search. Chatbot and Messenger are both chatbots that can be built into existing websites and apps to provide answers to customer questions. Knowledge is a proactive knowledge base that can suggest contents for forms, auto-complete requests, and predictively search for information. As for Search, it indexes data from different sources such as product catalogs and uses algorithms to tackle search queries.

With its products, Inbenta is competing for market share on a number of fronts. Its AI is anonymized and users are able to delete their data from the platform if they wish. In addition to Quiq and Ada, Inbenta’s Knowledge product competes with offerings from startups like Sana, while Search squares off against Hebbia’s document indexing tool.

Inbenta is currently based in Dallas, Texas and has over 160 employees. The company plans to grow to more than 200 by 2024. With its latest funding round, Inbenta will be able to invest more in people, processes and platform R&D, allowing it to provide a comprehensive platform that meets the needs of all enterprises.

Categorized as AI

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